Mr Tassos Philippakos, Chief Executive Officer of Hellenic Aerospace Industry S.A. (HAI) and Mr Jose Maria Marti Fluxa, General Manager of Indra Espacio SA signed today a strategic alliance agreement between the two companies, in the presence of Mr George Mergos, General Secretary of the Ministry of Economy and Finance, Mr Theodoros Damianos, HAI Chairman of the Board and Mr Panagiotis Papadakis, HAI Vice Chairman of the Board.

The agreement is within HAI business pursuit plans that focus on the establishment of strategic alliances with leading companies in the aerospace field. Under this agreement, the work to be assigned by Indra Espacio to HAI will be worth 50 million euro in the next five years, while both companies confirm their intention to co-operate on specific areas of mutual interest including electronic system upgrades, development and design tactical and strategic communication network surveillance systems, simulation systems, etc. Mr Philippakos and Mr Marti underlined the great importance of the agreement and the fact that both companies will benefit from this co-operation, which is the result of the recognition both countries have to each other’s Defense Industry capabilities.

HAI
26.05.2005